** Shares of cancer therapy developer Oncternal Therapeutics
hit record low, last down 59.32% at $1.69
** Co says it will discontinue its trials studying its experimental cancer therapies ONCT-534 and ONCT-808 and will explore strategic alternatives
** In early stage trial, ONCT-534, which is being studied in patients with metastatic castration resistant cancer, did not show clinically meaningful improvements of disease
** There was one death related to complications of shock at the highest dose tested with ONCT-808
** While the strategic exploration is ongoing, co will discontinue all product development activities and will take other steps to reduce costs, including a workforce reduction to preserve cash resources
** Stock down 85% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))
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